AIICO INSURANCE : AIICO INSURANCE PLC RESOLUTIONS AT THE 53RD ANNUAL GENERAL MEETING

Lagos, Nigeria,

June 9, 2023

RESOLUTIONS PASSED AT THE 53rd ANNUAL GENERAL MEETING OF AIICO

INSURANCE PLC

At the 53rd Annual General Meeting of AIICO Insurance Plc (the Company) held at

SHELL HALL, MUSON CENTRE, ONIKAN, LAGOS, LAGOS STATE on Thursday June 6, 2023,

the following resolutions were duly passed:

1. That the Reports of the Directors, Auditor, External Consultant on the Board Appraisal and Audit Committee together with the Audited Accounts for the financial year ended December 31, 2022 submitted to the meeting be and are hereby laid, received and adopted.
2. "a dividend of 3 kobo per share" amounting to N1,098,158,281 (One Billion, Ninety-Eight Million, One Hundred and Fifty-Eight Thousand, Two Hundred and Eighty-One Naira) only [subject to withholding tax] in respect of and out of the profit after taxation for the year ended 31st December 2022, payable to those shareholders whose names appear on the Register of members at the close of business on May 31, 2023 be and is hereby approved
3. That the following Directors be and are hereby duly elected and/or re-

elected:

1. Mrs. Folake Edun (NED)
2. Mr. Ademola Adebise (NED)
3. Mr. Rotimi Okpaise (NED)

1. That Messrs. ERNST & YOUNG (E&Y) Professional Services be re-appointed as the Company's Auditor until the end of the current financial year and that the remuneration and expenses of the Company's Auditor Messrs. ERNST & YOUNG Professional Services be fixed by the Directors in respect of the period ending at the conclusion of the next Annual General Meeting.
2. That the remuneration of the Managers of the Company be and is hereby disclosed to members.

6a. That the following shareholders' representatives be and are hereby elected as members of the Company's Statutory Audit Committee:

• Mrs. Esther Funke Augustine
• Chief Robert Igwe
• Chief Edmund Uzoma Njoku.

6b. That that the following Directors be and are hereby appointed to represent the Board on the Statutory Audit Committee:

• Mr. Samaila Dalhat Zubairu
• Mr. Rotimi Okpaise

Special Business

That the Articles of Association be and is hereby amended to read as follows:

1. The Company shall in each calendar year hold a general meeting as its Annual General Meeting in addition to any other meetings in that year and shall specify the meeting as such in the notice calling it; and not more than fifteen months shall elapse between the date of one Annual General Meeting of the Company and that of the next. The General Meetings of the Company shall be held either in person and/or electronic means at such time and place as the directors shall appoint. "Any Director or Shareholder shall be entitled to participate in any general meeting at which he or she is not physically present, by telephone or video conference or similar electronic means or communication facilities that ensure that all persons participating in the meeting are able to hear and talk to one another and the chairman of such meeting shall ensure that such Director's observations are duly recorded in the minutes of such general meeting".

2. That the Board be and is hereby authorized to take all necessary steps to give effect to the resolution.

By the Order of the Board

Donald Kanu. PhD

Company Secretary